Penrith City CouncilEconomic profile
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Penrith City

Rental listings

At June 2016, Penrith City had a median house rental of $420, $100 lower than the median house rental for Greater Sydney.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Automated Valuation System

Rental listings
Penrith City20162013Change
Housing value (at June)Penrith CityGreater SydneyPenrith City relative to Greater SydneyPenrith CityGreater SydneyPenrith City relative to Greater Sydney2013 to 2016
House--------------
First Quartile$380$420-9.5%$350$395-11.4%+$30
Median$420$520-19.2%$390$500-22.0%+$30
Third Quartile$475$700-32.1%$430$690-37.7%+$45
Median Rental Yield3.8%3.4%--5.4%4.7%----
Unit--------------
First Quartile$310$415-25.3%$300$380-21.1%+$10
Median$370$510-27.5%$350$460-23.9%+$20
Third Quartile$400$630-36.5%$370$580-36.2%+$30
Median Rental Yield4.5%4.0%--6.1%5.1%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2016
Rental listings, 2016 Third Quartile, Greater Sydney: $630 Median, Greater Sydney: $510 First Quartile, Greater Sydney: $415 Third Quartile, Greater Sydney: $700 Median, Greater Sydney: $520 First Quartile, Greater Sydney: $420 Third Quartile, Penrith City: $400 Median, Penrith City: $370 First Quartile, Penrith City: $310 Third Quartile, Penrith City: $475 Median, Penrith City: $420 First Quartile, Penrith City: $380
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2016
Change in rental listings, 2013 to 2016 Third Quartile, Greater Sydney: $50 Median, Greater Sydney: $50 First Quartile, Greater Sydney: $35 Third Quartile, Greater Sydney: $10 Median, Greater Sydney: $20 First Quartile, Greater Sydney: $25 Third Quartile, Penrith City: $30 Median, Penrith City: $20 First Quartile, Penrith City: $10 Third Quartile, Penrith City: $45 Median, Penrith City: $30 First Quartile, Penrith City: $30
Source: Hometrack 2011-2016, Automated Valuation System

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